This report provides an assessment of fiscal transparency practices in Serbia in relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency. Serbia has made solid advances in fiscal transparency in recent years, but there are still some major shortcomings. This report...

Pakistan's power sector underwent a substantial, if protracted, reform process. Beginning with an independent power producer program in 1994, the full unbundling of the national vertically integrated power and water utility, the Water and Power Development Authority, and the establishment of a...

Using a sample of 680 and 1,300 judicial and private auctions respectively, we analyze the effect on the wealth of those the law is intended to protect of different regulations applicable to each type of auctions. We find that consistent with a simple economic model, Courts assign judicial...

The challenge of power sector reform in the Arab Republic of Egypt has long been dominated by extremely high subsidies, with prices set well below the costs of supply. These subsidies have taken a variety of forms: explicit subsidies in the government budget, implicit subsidies in the...

Vietnam's power sector has developed rapidly since the 1990s to become a top performer among developing countries. This success has occurred mostly under a state-owned utility, Electricity Vietnam. Select market-oriented reforms to date have also had some positive impact. By the late 1990s, the...